Quotes about economics
page 12

“[Television] may teach self-interest rather than philanthropy, violence rather than gentleness, a disregard for human dignity rather than a respect for it. It may not always teach the truth but teach it does, and it is more than time that responsible people both within and outside the broadcasting professions said boldly what is so obvious in commonsense terms — we cannot understand what is happening in international, cultural, economic, political and social affairs without coming to grips with the way in which television influences virtually all our behavioural and thought processes.”

Mary Whitehouse (1910–2001) British activist

Television: Controlling the Explosive Influence http://archive.spectator.co.uk/article/28th-december-1974/14/television, The Spectator archive (28 December, 1974).

People, Truth, Way, Understanding

“The economic system is, in effect, a mere function of social organization.”

Karl Polanyi book The Great Transformation

The Great Transformation (1944), Ch. 4 : Societies and Economic Systems

“I supported the president’s moves. I helped to implement some of them leading up to the announcements when I was secretary of state, expanding travel opportunities, remittances. And I certainly told the president toward the end of my time that I hoped he would be able to move toward diplomatic relations and to make more of an impact by building up the relationship. And there are no better ambassadors for freedom, democracy and economic opportunity than Cuban Americans. So the more that we can have that kind of movement back and forth, the more likely we are to be able to move Cuba toward greater freedom, greater respect for rights. … I do think meeting with dissidents, meeting with people who have been voices, tribunes of freedom and opportunity is important.”

Hillary Clinton (1947) American politician, senator, Secretary of State, First Lady

Presidential campaign (April 12, 2015 – 2016), Democratic Presidential Debate in Miami (March 9, 2016)

People, Hope, Travel, Democracy

“While it was long possible and sometimes tempting for physicists to deny the usefulness of the molecular hypothesis, we economists have the good luck of being some of the ‘molecules’ of economic life ourselves, and of having the possibility through human contacts to study the behavior of other ‘molecules’.”

Tjalling Koopmans (1910–1985) Dutch American economist

Tjalling Koopmans in: Review of economics and statistics, Vol. 31 -(1949), p. 87

Life, Behavior, Study

“Along came the Republicans, trickle-down economics — one of the worst ideas since snake oil — was put back into place. And we ended up with the great recession. President Obama had to rescue the economy. And I don’t think he gets the credit he deserves for doing that.”

Hillary Clinton (1947) American politician, senator, Secretary of State, First Lady

Presidential campaign (April 12, 2015 – 2016), Democratic Presidential Debate in Miami (March 9, 2016)

Idea, Thinking

“We shouldn’t push it away. As it is a huge market over there in mainland China, it behooves Taiwan to maintain friendly, smooth economic relations.”

Lin Chuan (1951) Taiwanese politician

“A self-supporting and self-respecting democracy can plead no justification for the existence of child labor, no economic reason for chiseling workers' wages or stretching workers' hours.”

Franklin D. Roosevelt (1882–1945) 32nd President of the United States

1930s, Message to Congress on establishing minimum wages and maximum hours (1937)

Democracy, Support

“At the beginning of each semester, I tell students that my economic theory course will deal with positive, non-normative economic theory. I also tell them that if they hear me making a normative statement without first saying, "In my opinion," they are to raise their hands and say, "Professor Williams, we didn't take this class to be indoctrinated with your personal opinions passed off as economic theory; that's academic dishonesty." I also tell them that as soon as they hear me say, "In my opinion," they can stop taking notes because my opinion is irrelevant to the subject of the class -- economic theory. Another part of this particular lecture to my students is that by no means do I suggest that they purge their vocabulary of normative or subjective statements. Such statements are useful tools for tricking people into doing what you want them to do. You tell your father that you need a cell phone and he should buy you one. There's no evidence whatsoever that you need a cell phone. After all, George Washington managed to lead our nation to defeat Great Britain, the mightiest nation on Earth at the time, without owning a cell phone.”

Walter E. Williams (1936) American economist, commentator, and academic

1970s, Economics for the Citizen (1978)

People, Time, Parting, Personality

“Freud pointed out, in his Problem of Lay Analysis, that it is extremely unlikely that a young man who would throw the best years of his life into the cloistered drudgery of getting an M. D. degree, could possibly make a good psychoanalyst; so he preferred to look for young analysts among the writers, the lawyers, the mothers of families, those who had chosen human contact. But in their economic wisdom, the Psychoanalytic Institute of Vienna (and New York) overruled him.”

Paul Goodman book Growing Up Absurd

Source: Growing Up Absurd (1956), pp. 145-146.

Life, Wisdom, Family, Problem

“The legend of King Midas has been generally misunderstood. Most people think the curse that turned everything the old miser touched into gold, leaving him unable to eat or drink, was a lesson in the perils of avarice. But Midas’s true sin was his failure to understand monetary economics. What the gods were really telling him is that gold is just a metal. If it sometimes seems to be more, that is only because society has found it convenient to use gold as a medium of exchange—a bridge between other, truly desirable, objects. There are other possible mediums of exchange, and it is silly to imagine that this pretty, but only moderately useful, substance has some irreplaceable significance.”

Paul Krugman (1953) American economist

"The Gold Bug Variations", Originally published in Slate (Nov. 23, 1996)
The Accidental Theorist: And Other Dispatches From The Dismal Science (1998)

God, People, Imagination, Failure

“If you would govern a state of a thousand chariots (a small-to-middle-size state), you must pay strict attention to business, be true to your word, be economical in expenditure and love the people. You should use them according to the seasons (i. e. You should not enlist farmers during seeding or harvest time).”

Confucius (-551–-479 BC) Chinese teacher, editor, politician, and philosopher

The Analects, Chapter I

Love, People, Business, Time

“To countless generations of religious thinkers, the fundamental maxim of Christian social ethics had seemed to be expressed in the words of St. Paul to Timothy: "Having food and raiment, let us be therewith content. For the love of money is the root of all evil." Now, while, as always, the world battered at the gate, a new standard was raised within the citadel by its own defenders. The garrison had discovered that the invading host of economic appetites was, not an enemy, but an ally. Not sufficiency to the needs of daily life, but limitless increase and expansion, became the goal of the Christian's efforts.”

R. H. Tawney (1880–1962) English philosopher

Part IV, Ch. 4
Religion and the Rise of Capitalism (1926)

Love, Life, Money, World

“The rise of National Socialism is the protest of a people against a State that denies the right to work. If the machinery for distribution in the present economic system of the world is incapable of properly distributing the productive wealth of nations, then that system is false and must be altered. The important part of the present development is the anti-capitalist sentiment that is permeating our people.”

Gregor Strasser (1892–1934) German politician, rival of Adolf Hitler inside the Nazi Psrty

At the Reichstag (May 1934) "The Mind and Face of Nazi Germany" p. 165 - by Nagendranath Gangulee - National socialism (1942)

People, World, Parting, Falseness

“In the infinitely complex economic system on which we rely for our daily bread, no productive function is more important than that of our business leaders. These men are charged with the responsibility of giving direction and unity to the efforts of the many who participate in economic activity. It is their job to make the plans and decisions which will transform economic effort into the particular goods and services wanted by a myriad of consumers. Conversely, it is their job also to translate consumers' needs into employment opportunities for labor and other economic resources”

Robert Aaron Gordon (1908–1978) American economist

Source: Business Leadership in the Large Corporation (1945), p. 3

Men, Business, Decision, Effort

“So there is a big transformation. Also if you see the average lifespan, which was 28–29 in 1947, is now 64–65. In Kerala it is 74 or so. I am sure soon it will become 80–90. That is partly also because of food, because without nutrition, it is not possible. So we have had a transformation in our economic wellbeing. But that is not spread evenly in society; there are still very poor people, the highly deprived. In my view, the first task of both science and society is to address this issue”

M. S. Swaminathan (1925) Indian scientist

On changes in the living conditions in India since Indepencnce in 1947 pdf, In Conversation: M. S. Swaminathan, 25 October 2011, Current Science http://www.currentscience.ac.in/Volumes/101/08/0996.pdf,

People, Food, Science

“If I really believed in Friedman's economic theory, then I'd be quite satisfied to spend the rest of my life with a garden hose shoved down my throat, being filled with custard by representatives of the people of China.”

Nigel Lawson (1932) British Conservative politician and journalist

Speech to the Conservative Party Conference (13 October, 1988).

Life, People

“There was no simple riddance to the power of a dangerous political idea; no assassination possible to avert a disruptive change in technology; no natural death to be counted on to stop an economic change that ripped up ancestral estates or stirred up class discontent.”

Robert L. Heilbroner (1919–2005) American historian and economist

Source: The Future As History (1960), Chapter I, Part 6, The Inevitability of Progress, p. 31

Death, Idea, Nature, Change

“Foresight is an imperfect thing — all prevision in economics is imperfect.”

John Kenneth Galbraith (1908–2006) American economist and diplomat

Source: Money: Whence It Came, Where It Went (1975), Chapter XIX, The New Economics At High Noon, p. 269

“Creative destruction can apply to economic concepts as well. And this downturn offers an excellent opportunity to get rid of one that has long outlived its usefulness: gross domestic product. G. D. P. is one measure of national income, of how much wealth Americans make, and it’s a deeply foolish indicator of how the economy is doing. It ought to join buggy.”

Eric Zencey (1953–2019) American writer

Eric Zencey, in G.D.P. R.I.P. http://www.nytimes.com/2009/08/10/opinion/10zencey.html?pagewanted=all&_r=0, The New York Times, 9 August 9, 2009

Wealth

“Economics is on the side of humanity now.”

Isaac Asimov book The Currents of Space

The Currents of Space (1952)
General sources

“The idea that a country's economic fortunes are largely determined by its success on world markets is a hypothesis, not a necessary truth; and as a practical, empirical matter, that hypothesis is flatly wrong. That is, it is simply not the case that the world's leading nations are to any important degree in economic competition with each other, or that any of their major economic problems can be attributed to failures to compete on world markets.”

Paul Krugman (1953) American economist

Pop Internationalism (1996), Competitiveness: A Dangerous Obsession (1994)

Truth, World, Idea, Failure

“One should hardly have to tell academicians that information is a valuable resource: knowledge is power. And yet this occupies a slum dwelling in the town of economics. Mostly it is ignored.”

George Stigler (1911–1991) American economist

Source: "The economics of information," 1961, p. 213 ; lead paragraph

Knowledge

“I had no idea in 1933 what economics was, but I did well in the subject from the start, and when I graduated in 1937 with first class honours LSE gave me a scholarship to do a PhD in industrial economics.”

W. Arthur Lewis (1915–1991) Saint Lucain economist

Lewis (1979). " Sir Arthur Lewis - Biographical http://www.nobelprize.org/nobel_prizes/economic-sciences/laureates/1979/lewis-bio.html," cited in: Toporowski, Jan. "Sir William Arthur Lewis (1915–91)." Fifty Key Thinkers on Development (2006): 144.

Idea

“Europe is an economic giant, a political dwarf, and a military worm.”

Mark Eyskens (1933) Belgian politician

As quoted by Craig R. Whitney in WAR IN THE GULF: EUROPE; Gulf Fighting Shatters Europeans' Fragile Unity, The New York Times, January 25th, 1991. http://www.nytimes.com/1991/01/25/world/war-in-the-gulf-europe-gulf-fighting-shatters-europeans-fragile-unity.html?pagewanted=1 This phrase was pronounced in January 1991, a few days before the beginning of Desert Storm, while Eyskens was the Foreign Minister of Belgium.

“Most authorities in economics and sociology regard such an organization as a city an impossible structure, not only from the economic standpoint, but from the sociological and psychological as well. No creature of the highly nervous structure necessary to develop a culture, they point out, would be able to survive within such restricted limits. The result, if it were tried, these authorities say, would lead to mass neuroticism which in a short period of time would destroy the very culture which had built the city.”

Clifford D. Simak book City

Notes on the First Tale (pp. 9-10)
City (1952)

Time

“You're talking to a modern, nice, affable German person and they're saying to you something like 'You know, vell, it's a critical time now for Germany within Europe, also globally, economically ve are pretty good, ve have been better. But ve are very vibrant in the theater and arts…' and all the time you'll be listening to this, you're thinking Mmm, yeah, mmm… Hitler, Hitler, Hitler, Hitler, Hitler…”

Dylan Moran (1971) Irish actor and comedian

Like, Totally (2006)

Art, Thinking, Time, Personality

“The concept of the “organic growth” of mankind, as we have proposed in this report, is intended as a contribution toward achieving that end. Were mankind to embark on a path of organic growth, the world would emerge as a system of interdependent and harmonious parts, each making its own unique contributions, be it in economics, resources, or culture.
… Such an approach must start from and preserve the world’s regional diversity. Paths of development, region-specific rather than based on narrow national interests, must be designed to lead to a sustainable balance between the interdependent world-regions and to global harmony – that is, to mankind’s growth as an “organic entity” from its present barely embryonic state.”

Mihajlo D. Mesarovic (1928) Serbian academic

Source: Mankind at the Turning Point, (1974), p. viii as cited in: Brent Jessop " Psychopathic Groups and Distorted Definitions http://burningbabylon.wordpress.com/2008/11/29/psychopathic-groups-and-distorted-definitions/" at burningbabylon.wordpress.com, Nov. 29, 2008

World, Parting

“The Passions and the Interests does not have the policy urgency that a contribution to public decisions may enjoy (as Hirschman's The Strategy of Economic Development eminently does), nor the compulsive immediacy that the exigencies of practical reason generate (as Exit, Voice, and Loyalty superbly portrayed). What then is so special about this book? […] The answer lies not only in the recognition that Hirschman makes us see the ideological foundations of capitalism in a fresh way, but also in the remarkable fact that this freshness is derived from ideas that are more than two-hundred-years old. The basic hypothesis— the articulation and development of which Hirschman investigates—makes the case for capitalism rest on the belief that "it would activate some benign human proclivities at the expense of some malignant ones."”

Amartya Sen (1933) Indian economist

1990s, Foreword to The Passions and the Interests (1996)

Books, Way, Idea, Decision

“My so-called foreign friends do neither me nor the situation nor themselves any good when they try to bring me into opposition to the allegedly impossible National Socialist economic theories and declare me to some extent the protector of economic reason. I can assure you that everything I say and do has the complete approval of the Fuhrer and that I would not say or do anything that does not have his approval.”

Hjalmar Schacht (1877–1970) German politician

Speech in Leipzig (4 March 1935), as quoted in The Trial of the Germans : An Account of the Twenty-Two Defendants Before the International Military Tribunal at Nuremberg (1997) by Eugene Davidson, p. 234.

“It is not pretended that, at the present stage of its development, economic science is able to provide an organon even remotely approaching to what it imagines for itself as its ideal.”

Arthur Cecil Pigou (1877–1959) British economist

Source: The Economics of Welfare (1920), Ch. 1 : Welfare and Economic Welfare, § 4

Imagination, Science

“We shall not bind ourselves by treaties. We shall not allow ourselves to be entangled by treaties. We reject all clauses on plunder and violence, but we shall welcome all clauses containing provisions for good-neighbourly relations and all economic agreements; we cannot reject these.”

Vladimir Lenin (1870–1924) Russian politician, led the October Revolution

Concluding Speech Following the Discussion On the Report of Peace (8 November 1917) http://www.marxists.org/archive/lenin/works/1917/oct/25-26/26c.htm; Collected Works, Vol. 26. 1910s

“When a firm chooses to allocate its most valuable resources away from clients and to young stars, the economic consequences are real and visible.”

Jay W. Lorsch (1932) American organizational theorist

Lorsch & Thomas J. Tierney (2002), Aligning stars, p. 73

Star

“Software Engineering Economics is an invaluable guide to determining software costs, applying the fundamental concepts of microeconomics to software engineering, and utilizing economic analysis in software engineering decision making.”

Barry Boehm (1935) American software engineer

Barry W. Boehm (1981) Software engineering economics. Abstract.

Decision

“Socialism, wherever it actually had the means to plan a society, to pursue efficaciously its vision of the abolition of private property, economic inequality, and the allocation of capital and goods by free markets, culminated in the crushing of individual, economic, religious, associational, and political liberty. Its collectivization of agriculture alone led to untold suffering, scarcity, and contempt for property as the fruit of labor.”

Alan Charles Kors (1943) American academic

2000s, Can There Be an "After Socialism"? (2003)

Suffering

“The time, then, had come for him to poison himself so that an economic monopoly could be kept alive, a sprawling, interplan empire from which he now derived nothing.”

Philip K. Dick book The Three Stigmata of Palmer Eldritch

Source: The Three Stigmata of Palmer Eldritch (1965), Chapter 10 (p. 161)

Time

“It is hard to say whether increasing complexity is the cause or the effect of man's effort to cope with his expanding environment. In either case a central feature of the trend has been the development of large and very complex systems which tie together modern society. These systems include abstract or non-physical systems, such as government and the economic system. They also include large physical systems like pipe line and power distribution systems, transportation and electrical communication systems. The growth of these systems has increased the need not only for over-all planning, but also for long-range development of the systems. This need has induced increased interest in the methods by which efficient planning and design can be accomplished in complex situations where no one scientific discipline can account for all the factors. Two similar disciplines which emerged about the time of World War II to cope with these problems are called systems engineering and operations research.”

Arthur D. Hall (1925–2006) American electrical engineer

Source: A methodology for systems engineering, 1962, p. 5: About the evolution of systems engineering; Partly cited in: Allen B. Rosenstein (1965) " Systems engineering and Modern Engineering Design http://books.google.com/books?id=HDp9ReqM314C&pg=PA1#v=onepage&q&f=false"

War, World, Communication, Problem

“Southern slave owners constantly agitated in the 1850s for state centralization of economic activities that would promote slave agriculture: state-sponsored agricultural surveys, state-subsidized agricultural periodicals, and state investment in railroads (at more than twice the rate of Northern state assistance) which would unite the South and the West and encourage more intensive cotton cultivation. They were, as historian John Majewski remarks, the forerunners of the "southern Progressives of the early twentieth century."”

Allen C. Guelzo (1953) American historian

2010s, Bullwhip Feudalism (2018)

“In traditional economic writings dealing with the economy as a whole, it is usually assumed that prices are highly flexible and that economic adjustment is brought about through price changes. We are going to examine inflexible prices.”

Gardiner C. Means (1896–1988) American economist

Gardiner C. Means, "Price inflexibility and the requirements of a stabilizing monetary policy." Journal of the American Statistical Association 30.190 (1935): 401-413.

Change

“Knowledge accumulated during recent decades challenges and contradicts assumptions which are still axiomatic in conventional organizational theory. Unfortunately, those classical principles of organization — derived from inappropriate models, unrelated to the political, social, economic, and technological milieu, and based on erroneous assumptions about behavior — continue to influence our thinking about the management of the human resources of industry. Management's attempts to solve the problems arising from the inadequacy of these assumptions have often involved the search for new formulas, new techniques, new procedures. These generally yield disappointing results because they are adjustments to symptoms rather than causes. The real need is for new theory, changed assumptions, more understanding of the nature of human behavior in organizational settings.”

Douglas McGregor (1906–1964) American professor

Source: The Human Side of Enterprise (1960), p. 17 (2006: 24)

Disappointment, Behavior, Search, Understanding

“I was attracted to studies of cancer families because epidemiological studies show that virtually all cancers manifest a tendency to aggregate in families. Close relatives of a cancer patient are at increased risk of that neoplasm, and perhaps other forms of cancer. The excess site-specific cancer risk is exceptionally high for carriers of certain cancer genes, in whom the attack rate can approach 100 percent. In candidate cancer families, the possibility that clustering is on the basis of chance must be excluded through epidemiological studies that establish the presence of an excess cancer risk. Predisposed families are candidates for laboratory studies to identify the inherited susceptibility factors. These investigations have led to the identification and isolation of human cancer genes, the tumor suppressor genes. These cancer genes are among more than 200 single-gene traits associated with the development of cancer. Approximately a dozen inherited susceptibility genes have been definitively identified, and many more are being sought. From studies of retinoblastoma and other rare cancers, important new information was generated about the fundamental biology of cancers that arise in many patients. Isolation of an inherited cancer susceptibility gene provides opportunities for presymptomatic testing of at-risk relatives. However, testing of healthy individuals also raise important issues regarding informed consent, confidentiality and potential for adverse psychological, social and economic effects.”

Frederick Pei Li (1940–2015) American physician

Frederick Li - Harvard T.H. Chan School of Public Health http://www.hsph.harvard.edu/frederick-li/.

Family, Study, Chance

“Economics is not the Emperor of the social sciences, but the Humpty Dumpty.”

Steve Keen (1953) Australian economist

Source: Debunking Economics - The Naked Emperor Of The Social Sciences (2001), Chapter 3, The Price Of Everything And The Value Of Nothing, p. 83

Science

“A natural-rights libertarian values the life of the innocent individual. Only by protecting each individual's rights—life, liberty and property—can the government legitimately enhance the wealth of the collective. Only through fulfilling its night watchman role can government legitimately safeguard the wealth of the nation. For each individual, secure in his person and property, is then free to pursue economic prosperity, which redounds to the rest.”

Ilana Mercer South African writer

Barcelona and Beyond: How Politicians & Policy Wonks Play God With Your Life http://dailycaller.com/2017/08/21/barcelona-and-beyond-how-politicians-wonks-play-god/, Daily Caller, August 21, 2017. Barcelona and Beyond: How Politicians & Policy Wonks Play God With Your Life http://www.americanthinker.com/blog/2017/08/barcelona_and_beyond_how_politicians_and_policy_wonks_play_god_with_your_life_.html, American Thinker, August 20, 2017. 2010s, 2017

Life, Nature, Personality, Night

“Economic theory, in every branch, deals with practical affairs. Its subject is human welfare, and it is never entirely dissociated from the practical question of how human welfare is to be promoted. But it is a special characteristic of the art of central banking that it deals specifically with the task of an authority directly entrusted with the promotion of human welfare. Human welfare, human motives, human behaviour supply material so baffling and elusive that many people are sceptical of the possibility of building a scientific edifice on so shifting a foundation. But however complex the material, and however imperfect the data, there is always an advantage to be gained from systematic thought.”

Ralph George Hawtrey (1879–1975) British economist

Preface
The Art of Central Banking (1932)

People, Art, Motivation, Question

“Free-market economics and tolerance for Chinese violations of trade and commercial protocols did not result in either the liberalization or the democratization of China. Over the past two decades, we have been told that the Japanese, the European Union, and the Chinese successively would eclipse America with their respective superior paradigms.”

Victor Davis Hanson (1953) American military historian, essayist, university professor

2010s, The Deflation of the Academic Brand (2018)

Success, Past

“Wealth, for the purposes of economic study, is confined to those values attaching to material objects through the action of man, which values can be exchanged /or other values.”

Hilaire Belloc (1870–1953) writer

Source: Economics for Helen (1924), Ch. 1 : What is Wealth?

Study, Wealth

“While I always wait for the final details of any piece of legislation before deciding whether to support it or not, the framework released last week emphasized two main goals that I wholeheartedly support: economic growth and simplicity.”

Ted Budd (1971) American politician

Why we need tax reform http://www.greensboro.com/opinion/columns/u-s-rep-ted-budd-why-we-need-tax-reform/article_7ce96e8e-96d8-5a6d-9f5c-5e9bb26c3a36.html (October 23, 2017)

Support, Waiting

“What in Calvin had been a qualified concession to practical exigencies appeared in some of his later followers as a frank idealization of the life of the trader, as the service of God and the training-ground of the soul. Discarding the suspicion of economic motives, which had been as characteristic of the reformers as of medieval theologians, Puritanism in its later phases added a halo of ethical sanctification to the appeal of economic expediency, and offered a moral creed, in which the duties of religion and the calls of business ended their long estrangement in an unanticipated reconciliation.”

R. H. Tawney (1880–1962) English philosopher

Part IV, Ch. 3
Religion and the Rise of Capitalism (1926)

Life, God, Religion, Soul

“In spite of all the foregoing, there is a science of economics, a true, and even exact, science, which reaches laws as universal as those of mathematics and mechanics. The greatest need for the development of economics as a growing body of thought and practice is an adequate appreciation of the meaning, and the limitations, of this body of accurate premises and rigorously established conclusions. It comes about in the same general way as all science, except perhaps in a higher degree, i. e., through abstraction. There are no laws regarding the content of economic behavior, but there are laws universally valid as to its form. There is an abstract rationale of all conduct which is rational at alt, and a rationale of all social relations arising through the organization of rational activity.”

Frank Knight (1885–1972) American economist

Source: "The limitations of scientific method in economics", 1924, p. 127 (2009 edition)

Law, Way, Behavior, Mathematics

“Economic systems come, and economic systems go. No economic system lasts forever. Capitalism is not likely to last forever, either.”

Jim Stanford (1961) Canadian economist

Part 1, Chapter 3, Economic History, p. 43
Economics For Everyone (2008)

“It is possible that the major collaboration between economists and engineers is still to come, in the greater use of physical analogues and computers of the analogue type to avoid the difficulties of calculation. Apart from their major use as possible tools for economic regulation, physical analogues have a subsidiary use, for there are students of economics, as there are many students of engineering, who can better understand the significance of the somewhat formidable mathematics that tends to be used in this field, if they can first acquaint themselves with the types of behaviour in question as exhibited by physical objects that can be seen, felt, handled and experimented with. It may also be suggested that economists may find that what they have to say about economic policy will be very readily assimilated by one group of attentive pupils, namely the scientists, engineers and technicians of industry, if explanatory notions can be drawn from the theory of automatic control, which is now part of a normal engineering education. The aim of this essay has been to give explanations of system behaviour, and some approaches to its analysis, using geometrical construction and physical analogy where possible to clarify the implications of the more usual formal algebraic approach.”

Arnold Tustin (1899–1994) British engineer

Source: The Mechanism of Economic Systems (1953), p. 2

Education, Mathematics, Understanding, Question

“One hypothesis about the delay for the award is that the prize committee realizes that recipients tend to shirk once they get the prize. This consideration was particularly important in Gary’s case because he had continued to exhibit high productivity. Thus, the drop in output caused by an early prize for Gary might have had severe adverse consequences for economic research.”

Robert Barro (1944) American classical macroeconomist

Source: Nothing Is Sacred (2002), p. 18

“…I would suggest that the removal of the regime of Saddam Husain presents the US with a historic opportunity that is as large as anything that has happened in the Middle East since the fall of the Ottoman Empire and the entry of British troops into Iraq in 1917. Iraq is not Afghanistan. It is rich enough and developed enough and has the human resources to become as great a force for democracy and economic reconstruction in the Arab and Muslim world as it has been a force for autocracy and destruction. But for the world to be able to see the challenge in this way, it is necessary to change the terms of the debate over this coming war with Iraq.”

Kanan Makiya (1949) American orientalist

"A Model for Post-Saddam Iraq", American Enterprise Institute (October 3, 2002)

War, World, Way, Democracy

“Excessively precise economic analysis can lead to assessing everything in terms of its easily measurable melt value - the value that thieves get from stealing copper wiring from isolated houses, that vandals got from tearing down Greek temples for the lead joints holding the marble blocks together, that shortsighted timber companies get from liquidating their forests. The standard to insist on is live value. What is something worth when it's working?”

Stewart Brand book Whole Earth Discipline

Whole Earth Discipline (2009), page 277.

Tear, Housing

“Every political debate these days contains a lot about economic policies. So much so that sometimes I think people get a little tired of hearing about them. Naturally there is a cry that Government must put people before economics. Who could disagree? That is the very reason why we in our Party have constantly fought Marxism and Communism. Fought Marxism because of —its compulsory society —its nationalisation of the means of production, distribution and exchange. —its attempt to snuff out individual conscience. —the absence of the great voluntary societies which are so much a part of our way of life. —its denial of freedom to choose —its elevation of the values of the State above those of religion. Its denial of the right to educate children outside the state system. —its extinction of private property because property rights support human rights.”

Margaret Thatcher (1925–2013) British stateswoman and politician

Speech to Conservative Women’s Conference (20 May 1981) https://www.margaretthatcher.org/document/104653 First term as Prime Minister

Life, Children, People, Education

“The change began with John Stuart Mill and the Utopians. When Mill pointed out that economics had no ultimate solution to the problem of distribution, that society might do with the fruits of its toil as it saw fit, he introduced into the mechanical calculus of the market a conflicting calculus of moral judgment.”

Robert L. Heilbroner book The Worldly Philosophers

Source: The Worldly Philosophers (1953), Chapter XI, Beyond the Economic Revolution, p. 307

Problem, Change

“Economic analysis is the first principle of Marxism. Professors who were genuine leftists would have challenged the entire economics-driven machinery of American academe — the wasteful multidepartmental structure, the divisive pedantry of overspecialization, the cronyism and sycophancy in recruitment and promotion, the boondoggling ostentation of pointless conferences, the exploitation of graduate students and part-time teachers, the subservience of faculty to overpaid administrators, the mediocrity and folly of the ruling cliques of the Modern Language Association.”

Camille Paglia (1947) American writer

Source: Vamps and Tramps (1994), p. xix

Teachers, Time, Parting

“Vickery points out that the Kissinger-Nixon policy during the last two years of the war was a “major mystery,” for which he suggests an explanation that appears to us quite plausible. Referring to the “Sonnenfeldt Doctrine,” which holds that “pluralistic and libertarian Communist regimes will breed leftist ferment in the West,” he suggests that “when it became clear [to U. S. leaders] that they could not win in Cambodia, they preferred to do everything possible to ensure that the post-war revolutionary government be extremely brutal, doctrinaire, and frightening to its neighbors, rather than a moderate socialism to which the Thai, for example, might look with envy.” In short, though it was understood that the United States had lost the war in Cambodia (even though it was, quite clearly, still trying to win it in Vietnam), the destruction of rural Cambodia, by imposing the harshest possible conditions on the eventual victors, would serve two classic ends: retarding social and economic progress, and maximizing the brutality of the eventual victors. Then the aggressors would at least be able to reap a propaganda victory from the misery they had sown.”

Edward S. Herman (1925–2017) American journalist

Source: After the Cataclysm: Postwar Indochina and the Reconstruction of Imperial Ideology, with Noam Chomsky, 1979, pp. 218-219

War, Appearance, Victory, Envy

“African peoples are now writing your own story of liberty. Africans have overcome the arrogance of colonial powers, overcome the cruelty of apartheid, and made it clear that dictatorship is not the future of any nation on this continent. In the process, Africa has produced heroes of liberation, leaders like Mandela, Senghor, Nkrumah, Kenyatta, Selassie and Sadat. And many visionary African leaders, such as my friend, have grasped the power of economic and political freedom to lift whole nations and put forth bold plans for Africa's development.”

George W. Bush (1946) 43rd President of the United States

2000s, 2003, Hope and Conscience Will Not Be Silenced (July 2003)

People, Freedom, Future

“Usually this desire [for family limitation] has been laid to economic pressure… It has asserted itself among the rich and among the poor, among the intelligent and the unintelligent. It has been manifested in such horrors as infanticide, child abandonment and abortion.”

Margaret Sanger book Woman and the New Race

Source: Woman and the New Race, (1922), Chapter 2, "Women's Struggle for Freedom"

Family, Intelligence

“When we reject unemployment as an economic instrument — as we do — and when we reject also superficial remedies, as socialists must, then we must ask ourselves unflinchingly what is the cause of high unemployment. Quite simply and unequivocally, it is caused by paying ourselves more than the value of what we produce. There are no scapegoats.”

James Callaghan (1912–2005) Prime Minister of the United Kingdom; 1976-1979

Labour Party Annual Conference Report 1976, p. 188.
Speech at the Labour Party Conference, 28 September 1976.
Prime Minister

“A lot of joblessness in the black community doesn't seem to be reachable through fiscal and monetary policies. People have not been drawn into the labor market even during periods of economic recovery. Our study clearly shows that employers would rather not hire a lot of workers from the inner city. They feel people from the inner city are not job-ready, that the kids have been poorly educated, that they can't read, they can't write, they can't speak.”

William Julius Wilson (1935) American sociologist

Interview with Mother Jones magazine, September/October 1996 issue. http://www.motherjones.com/news/qa/1996/09/early.html.

People, Education, Feeling, Communication

“No Government can produce an economic miracle. An economic miracle depends on people on the shop floor, in the board room, in the sales office, working a bit harder and more efficiently than they have worked in the past.”

Denis Healey (1917–2015) British Labour Party politician and Life peer

On BBC TV (15 December 1976).
1970s

People, Past, Dependency

“What is the "cost of capital" to a, firm in a world in which funds are used to acquire assets whose yields are uncertain; and in which capital can be obtained by many different media, ranging from pure debt instruments, representing money-fixed claims, to pure equity issues, giving holders only the right to a pro-rata share in the uncertain venture? This question has vexed at least three classes of economists: (1) the corporation finance specialist concerned with the techniques of financing firms so as to ensure their survival and growth; (2) the managerial economist concerned with capital budgeting; and (3) the economic theorist concerned with explaining investment behavior at both the micro and macro levels.”

Franco Modigliani (1918–2003) Italian-American economist

Franco Modigliani and Merton H. Miller. "The cost of capital, corporation finance and the theory of investment." The American economic review (1958): 261-297.

Money, World, Behavior, Question

“Current economic growth has uncoupled itself from the world and has become irrelevant. Worse, it has become a blind guide.”

Herman E. Daly (1938) American economist

Source: Steady-State Economics, 1977, p. 108

World

“The vision for Europe needs to renew its commitment to true subsidiarity. Having structures of economic, political and social relationships that liberate subsidiarity will make accepting complexity more realistic. It seems to me that current debates about what Europe is have fallen into the trap of equating strength and unity with simplicity. As I have just said, the opposite seems to be true. Attempts to explain European structures and identity with a single overarching story have ended in failure because they have not allowed sufficient flexibility for these structures to be lived out below the continental level.”

Justin Welby (1956) British Anglican bishop; the 105th Archbishop of Canterbury

Address to the Catholic Institute of Paris (November 19, 2016)

Failure

“There is much evidence that people are not rational, in the economist’s sense; nor do they take into account expectation, in the precise interpretation of that word. As a result economic theory often does not correspond with what happens in the market. Some would argue that we need descriptive economics. I would argue that all should be taught about probability, utility, and MEU (maximization of expected utility) and act accordingly.”

Dennis Lindley (1923–2013) British statistician

2. Stylistic Questions. p. 22.
Understanding Uncertainty (2006)

People, Sense

“Here, India will be a global player of considerable political and economic impact. As a result, the need to explicate what it means to be an Indian (and what the ‘Indianness’ of the Indian culture consists of) will soon become the task of the entire intelligentsia in India. In this process, they will confront the challenge of responding to what the West has so far thought and written about India. A response is required because the theoretical and textual study of the Indian culture has been undertaken mostly by the West in the last three hundred years. What is more, it will also be a challenge because the study of India has largely occurred within the cultural framework of America and Europe. In fulfilling this task, the Indian intelligentsia of tomorrow willhave to solve a puzzle: what were the earlier generations of Indian thinkers busy with, in the course of the last two to three thousand years? The standard textbook story, which has schooled multiple generations including mine, goes as follows: caste system dominates India, strange and grotesque deities are worshipped in strange andgrotesque ways, women are discriminated against, the practice of widow-burning exists and corruption is rampant. If these properties characterize India of today and yesterday, the puzzle about what the earlier generation of Indian thinkers were doing turns into a very painful realization: while the intellectuals of Europeanculture were busy challenging and changing the world, most thinkersin Indian culture were apparently busy sustaining and defendingundesirable and immoral practices. Of course there is our Buddha andour Gandhi but that is apparently all we have: exactly one Buddha and exactly one Gandhi. If this portrayal is true, the Indians have butone task, to modernize India, and the Indian culture but one goal: to become like the West as quickly as possible.”

S. N. Balagangadhara (1952) Indian philosopher

Foreword by S. N. Balagangadhara in "Invading the Sacred" (2007)
Source: Balagangadhara, S.N. (2007), "Foreword." In Ramaswamy, de Nicolas & Banerjee (Eds.), Invading the Sacred: An Analysis of Hinduism Studies in America . Delhi: Rupa & Co., pp. vii–xi.

Women, Pain, World, School

“In short, I believe the future is ours to shape. Our economies are booming. Our political influence is growing. And our ability has never been stronger. Our populations are youthful and energetic. Our thinkers, researchers and scientists are globally renowned. Our culture is internationally acclaimed. Our private sector companies are some of the world’s largest and most profitable. We can only achieve [these] goals, if we work together… because our success, is dependent on our neighbour's success; economic stagnation in one part of our region, dampens prosperity in another; instability in one member state, causes insecurity for us all.”

Mohamed Nasheed (1967) Maldivian politician, 4th president of the Maldives

President Nasheed stressed that the time has come for South Asia, which he said was earlier considered a sideshow in the theatre of global politics, to shine as it currently occupies the centre stage in global politics, quoted on HaveeruOnline, 'Time has come to shine', President Nasheed tells SAARC leaders http://www.haveeru.com.mv/news/38638, November 11, 2011.

Youth, World, Success, Future

“The best you can say about economic policy in this slump is that we have for the most part avoided a full repeat of the Great Depression. I say “for the most part” because we actually are seeing a Depression-level slump in Greece, and very bad slumps elsewhere in the European periphery. Still, the overall downturn hasn’t been a full 1930s replay. But all of that, I think, can be attributed to the financial rescue of 2008-2009 and automatic stabilizers. Deliberate policy to offset the crash in private spending has been largely absent.”

Paul Krugman (1953) American economist

"Economics in the Crisis" http://krugman.blogs.nytimes.com/2012/03/05/economics-in-the-crisis/ (March 5, 2012) The Conscience of a Liberal blog

Thinking, Parting

“In 1964 I was at school, planning to study economics and sociology, when curiosity took me to the Tate Gallery to see an international survey exhibition of contemporary art. It brought together the painting and sculpture of the previous decade, beginning with the late works of the modern masters, Matisse and Picasso, and concluding with the twenty-seven year olds Allen Jones and David Hockney. I was bowled over. Suddenly, art was not just Turner and Constable, or Leonardo and Michelangelo, but objects of considerable size and brilliant colour, dealing with the sensations, subjects and issues of the Sixties.”

Nicholas Serota (1946) British curator

The Dimbleby Lecture 2000

School, Art, Study, Painting

“… the value of land must, in the future, be assessed on its yield of potable water. Those property-owners with a constant source of pure water already have an economically-valuable "product" from their land, and need look no further for a source of income.”

Bill Mollison (1928–2016) Australian permaculturist

Source: Permaculture: A Designers' Manual (1988), chapter 7.1

Water, Future

“Americanization, which is the achievement of identity of economic interest, is the granting to men of a fair share of the returns of their labor, with sufficient leisure to use these returns. It is the satisfaction of the impulse to create things for use and for beauty rather than for profit alone. It is the establishment of just relationships and equitable dealing with all men of all races, including respect and consideration. It is a share in the management of business, giving men enduring incentives and a permanent interest and voice in determining their own working conditions.”

Frances Kellor (1873–1952) American sociologist

What is Americanization? (1919)

Men, Beauty, Business

“And comparing what happened in England—after all, in England the Parliament in Westminster was making laws for the West Indies. The West Indians didn't have any representation in the Parliament. The laws were made for them, and they had to go along with it. There was no such power within the Federal government to interfere with slavery, except by limiting the expansion of slavery. And it was Lincoln’s belief—and I think the best economic analysis that we have of the American economy in the antebellum United States indicates—that if the expansion of slavery had been ended, and if it was no longer possible for surplus slaves to be sold from the old states to new territories, that the pressure within the states to adopt programs of emancipation would become great enough to do that.”

Harry V. Jaffa (1918–2015) American historian and collegiate professor

2000s, The Real Abraham Lincoln: A Debate (2002), Q&A

Law, Thinking

“Reaganites learned it is POLICY change that changes economic trajectory. Reagan’s successes were built on establishing a fiscal framework that invigorated our entire economy, revitalized growth and investment while decreasing spending, tax rates, over-reaching regulations, unemployment, and favoritism via individual subsidies. We need Reaganites in the new Administration. However well meaning, burdensome federal government imposition is never the solution. Never. Not in our homes, not in our schools, not in churches, not in businesses.”

Sarah Palin (1964) American politician

2016, But… Wait… The Good Guys Won’t Win With More Crony Capitalism (December 2, 2016)

School, Home, Business, Learning

“We live in a system described in obsolete terms. We have come to believe our own repeated declarations that our society is based on individual initiative – whereas, in fact, most of it is no more individual than an infantry division. We assume that our economic system is based on “private property.” Yet most industrial property is is no more private than a seat in a subway train, and indeed it is questionable whether much of it can be called “property” at all. We indignantly deny that we are collectivist, yet it is demonstrable that more than two-thirds of our enterprise is possible only because it is collectivist: what is really meant is that the State did not do the collectivizing.”

Adolf A. Berle (1895–1971) American diplomat

Source: Power Without Property, 1959, p. 27; Cited in asociologist.com http://asociologist.com/2009/12/07/retrosociology-quotes-of-the-day-berle-power-without-property/, 2009/12/07.

Question, Training

“Those who think that the Jews are poor unfortunates, arrived here by chance, carried by the wind, led by fate, and so on, are mistaken. All the Jews who exist on the face of the earth form a great community, bound by blood and Talmudic religion. They are parts of a truly implacable state, which has laws, plans and leaders who formulate these plans and carry them through. The whole thing is organised in the form of a so-called 'Kehillah'. This is why we are faced, not with isolated Jews, but with a constituted force, the Jewish community. In any of our cities or countries where a given number of Jews are gathered, a Kehillah is immediately set up, that is to say the Jewish community. This Kehillah has its leaders, its own judiciary, and so on. And it is in this small Kehillah, whether at the city or at the national level, that all the plans are formed : how to win the local politicians, the authorities; how to work one's way into circles where it would be useful to get admitted, for example, among the magistrates, the state employees, the senior officials; these plans must be carried out to take a certain economic sector away from a Romanian's hands; how an honest representative of an authority opposed to the Jewish interests could be eliminated; what plans to apply, when, oppressed, the population rebels and bursts in anti-Semitic movements.”

Corneliu Zelea Codreanu (1899–1938) Romanian politician

For My Legionaries: The Iron Guard (1936), Jewish Problem

Fate, Religion, Law, Way

“The corporation is not an independent "person" with its own rights, needs, and desires that regulators must respect. It is a state created tool for advancing social and economic policy.”

Joel Bakan (1959) Canadian writer, musician, filmmaker and legal scholar

Source: The Corporation: The Pathological Pursuit of Profit and Power (2004), Chapter 6, Reckoning, p. 158

Personality

“[In 1932, Lionel Robbins declared economics ‘the science of choice’ (Robbins 1932). In the same year, when students at the University of Chicago opened their social sciences course reader, they read Knight’s response:] Such definitions come too near to saying that economics is the science of things generally, of everything that men are for practical reasons interested in. Such a definition is useless and misleading”

Frank Knight (1885–1972) American economist

Source: The Economic Organization, 1951, p. 4 as cited in: Ross B. Emmett (ed). The Elgar Companion to The Chicago School of Economics http://books.google.com/books?id=MaCciKWcDIAC&pg=PA54, 2008. p. 53

Men, Universe, Science, Reading

“Women began their inner emancipation by their access to literature, by access to the world through books; an access they could not have socially or politically, or of course economically, in the world at large.”

George Steiner (1929–2020) American writer

Do Books Matter? (ed. Brian Baumfield), ISBN 0705700143, p. 19
Do Books Matter?

Women, Books, World, Literature

“Although the [American] revolution grew out of economic and political causes, it represents primarily one of those costly and unfortunate internecine wars in which the Nordics have been prone to indulge at intervals for two or three thousand years, and which have done so much to weaken them as a race.”

Madison Grant (1865–1937) American lawyer, eugenicist, and conservationist

The Conquest of a Continent (1933)

War

“If I were compelled to state in a single sentence the most significant contribution of our movement to modern civilization, I should say that it is the application of the idea of continuous and experimental research, found so effective in economic enterprise, to the business of public administration intimately and in a deep-thrusting sense, a contribution to the processes by which modern mankind is striving with all its resources to emancipate itself from the tyranny of rules of thumb and the blind regimen of nature, becoming conscious of its destiny as an all conquering power.”

Charles A. Beard (1874–1948) American historian

As quoted in The Administrative State (1948) by Dwight Waldo, p. 33

Idea, Business, Nature, Sense

“Democracy has failed to dampen the right/left ideological schism, which is historically rooted in the early years of separate state creation. And neither the right nor the left is fully able to provide a convincing alternative vision of how democracy in Korean society can robustly develop and thereby enhance its quality. The rightists/conservatives, who continue to retain their predominant power and influence over the state and civil society, still cling to an old-fashioned, outmoded black-and-white ideology derived from the Cold War period. That ideology can no longer provide a political vision and values and norms pertinent to the post-Cold War era as well as a democratized, highly modernized and globalized social environment. Thereby they have failed to play a leading role in enhancing autonomy of civil society vis-à-vis the state, respecting rule of law, and contributing to bringing social integration and inclusiveness.
On the other hand, the leftists have disappointed many people who expected that the entirely new generations which appeared on the political center stage in the course of democratization could play a decisive role in changing Korean politics. In recent years we have witnessed a growing disillusionment with the radical discourses and ideas as well as with their inability to develop a new type of party politics, deal with the socio-economic problems and provide a certain substantive model for ethical life.”

Choi Jang-jip (1943) South Korean political scientist

"The Fragility of Liberalism and its Political Consequences in Democratized Korea" (2009)

Life, War, People, Law

“Intensive research in recent years into the sources of economic growth among both developing and developed nations generally point to a number of important factors: the state of knowledge and skill of a population; the degree of control over indigenous natural resources; the quality of a country's legal system, particularly a strong commitment to a rule of law and protection of property rights; and yes, the extent of a country's openness to trade with the rest of the world. For the United States, arguably the most important factor is the type of rule of law under which economic activity takes place. When asked abroad why the United States has become the most prosperous large economy in the world, I respond, with only mild exaggeration, that our forefathers wrote a constitution and set in motion a system of laws that protects individual rights, especially the right to own property. Nonetheless, the degree of state protection is sometimes in dispute. But by and large, secure property rights are almost universally accepted by Americans as a critical pillar of our economy. While the right of property in the abstract is generally uncontested in all societies embracing democratic market capitalism, different degrees of property protection do apparently foster different economic incentives and outcomes.”

Alan Greenspan (1926) 13th Chairman of the Federal Reserve in the United States

Alan Greenspan (2004) The critical role of education in the nation's economy.
2000s

World, Law, Nature, Knowledge

“I learned more about economics from one South Dakota dust storm than I did in all my years at college.”

Hubert H. Humphrey (1911–1978) Vice-President of the USA under Lyndon B. Johnson

Quoted in "THE CONGRESS: Education of a Senator," http://content.time.com/time/magazine/article/0,9171,780085,00.html Time magazine ( 17 January 1949 http://books.google.com/books?id=8-jVAAAAMAAJ&q=%22I+learned+more+about+economics+from+one+south+dakota+dust+storm+than+I+did+in+all+my+years+at+college%22&pg=PA14#v=onepage)

Learning

“There are a number of imperfections in the new South Africa where I would have hoped that things would be better, but on balance I think we have basically achieved what we set out to achieve. And if I were to draw balance sheets on where South Africa stands now, I would say that the positive outweighs the negative by far. There is a tendency by commentators across the world to focus on the few negatives which are quite negative, like how are we handling AIDS, like our role vis-à-vis Zimbabwe. But the positives – the stability in South Africa, the adherence to well-balanced economic policies, fighting inflation, doing all the right things in order to lay the basis and the foundation for sustained economic growth – are in place.”

F. W. de Klerk (1936) South African politician

Interview with Richard Stengel https://web.archive.org/web/20110622073025/http://www.cfr.org/southern-africa/hbo-history-makers-series-frederik-willem-de-klerk/p7114?breadcrumb=%2Fregion%2F151%2Fsouthern_africa (8 June 2004) 2000s, 2004

World, Hope, Thinking, Fight

“We have been constantly besought to engage in competitive armaments. Frequent reports will reach us of the magnitude of the military equipment of other, nations. We shall do well to be little impressed by such reports or such actions. Any nation undertaking to maintain a military establishment with aggressive and imperialistic designs will find itself severely handicapped in the economic development of the world. I believe thoroughly in the Army and Navy, in adequate defense and preparation. But I am opposed to any policy of competition in building and maintaining land or sea armaments.”

Calvin Coolidge (1872–1933) American politician, 30th president of the United States (in office from 1923 to 1929)

1920s, Second State of the Union Address (1924)

World, Sea

“The postwar era has not surprised Arthur Burns, for business cycles have continued their "unceasing round." although the United States recession of 1981-82 was the eighth since World War II and the deepest postwar slump by almost any measure, the 1983-84 recovery displayed an upward momentum sufficient to befuddle forecasters and delight incumbent politicians. Nor would a reincarnated Joseph Schumpeter be disappointed in the current status of business cycle research in the economics profession. To be sure, interest in business cycles decayed during the prosperity of the 1960s, as symbolized in the 1969 conference volume, Is the Business Cycle Obsolete? and in Paul Samuelson's remark the same year that the National Bureau of Economic Research "has worked itself out of one of its first jobs, namely, the business cycle."”

Robert J. Gordon (1940) American economist

Source: The American Business Cycle, 1986, p. 1-2

War, World, Disappointment, Business

“The Soviet Union and its empire disappeared in large part because its smokestack economy could no longer keep up with the technological progress of the world's major economic powers.”

John Mearsheimer book The Tragedy of Great Power Politics

Source: The Tragedy of Great Power Politics (2001), Chapter 6, Great Powers in Action, p. 202

World, Parting

“For the Confucian, the specialistic expert could not be raised to truly positive dignity, no mater what his social usefulness. The decisive factor was that the "cultured man" (gentleman) was "not a tool"; that is, in his adjustment to the world and in his self-perfection he was an end unto himself, not a means for any functional end. This core of Confucian ethics rejected professional specialization, modern expert bureaucracy, and special training; above all, it rejected training in economics for the pursuit of profit.”

Max Weber (1864–1920) German sociologist, philosopher, and political economist

Source: Religion of China (1915), p. 246

World, Decision, Perfection, Training

“The most urgent reason for prohibition is the good of these depressed classes. No other single measure of reform can help these people, and at once raise them economically and socially as total prohibition can. The rich and the educated may be indifferent about this reform. It is most necessary for saving the poor and the lowly.”

C. Rajagopalachari (1878–1972) Political leader

Rajagopalachari, quoted in: Tek Chand (1972) Liquor Menace in India, p. 116

People, Education, Help, Indifference

“Gandhi, Nehru and all did try to improve the situation. They tried to break a lot of economic and social stratifications. But inertia and the system prevail.”

V. P. Singh (1931–2008) Indian politician

We are ruled by an upper caste Hindu raj

“[Increasing] politicization means the [economic] expansion is slowing up and you are no longer attempting to achieve increased output per capita, or increased wealth, or increased satisfactions… but you are doing so by mobilizing power. We have seen this going on for almost a century. …increased militarization.”

Carroll Quigley (1910–1977) American historian

Oscar Iden Lecture Series, Lecture 3: "The State of Individuals" (1976)

Wealth

“The separate excitation of the dynamo corresponds with the independently determined investment in the economic model, and the total excitation with income. Perhaps in this electrical age, the conventional metaphor of ‘priming the pump’ might be dropped in favour of ‘exciting the dynamo’.”

Arnold Tustin (1899–1994) British engineer

Source: The Mechanism of Economic Systems (1953), p. 8

Age

“Kill the gringo. What I mean is we must kill the gringo economically and politically but not necessarily physically unless, of course, the worst comes to the worst.”

José Ángel Gutiérrez (1944) American academic

page 10523 of HOUSE OF REPRESE.NTATIVES-Monday, April 28, 1969. This is on page 27/99 of the part 8-5 PDF https://www.gpo.gov/fdsys/pkg/GPO-CRECB-1969-pt8/pdf/GPO-CRECB-1969-pt8-5.pdf ( archive http://archive.is/753l4). According to Behnken this was said "a few weeks later" to clarify the preceding MAYO rally quote. Gonzalez describes it as "Last Tuesday, at Kingsville" indicating it was said 22 April 1969.

“There are two suffixes in our language (and similar ones in other European languages) which suggest organized knowledge. One is the venerable, academic "ology," that reminds one of university curricula and scholarship. The other is the energetic and somewhat mysterious "ics," which has a connotative flavor of magic. Where "ology" suggests academic isolation (ichthyology, philology) "its" suggests a method of attack on life’s problems. It contains a faint throwback to the ancient dreams of the philosopher’s stone and of "keys" to the riddles of the universe. Ancient words ending in "ics" are mathematics and metaphysics. Of more recent origin are economics, statistics, semantics, and cybernetics.”

Anatol Rapoport (1911–2007) Russian-born American mathematical psychologist

1950, p. 12 (1952, p. 123) lead paragraph
1950s, "What is Semantics?", 1950

Life, Dreams, Mathematics, Knowledge